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Commentary on The Insolvency Service's latest insolvency statistics up to December 2021

“The latest publication reveals an increase in the total number of company insolvencies from 2020, but it is notable that these figures are still well below pre-pandemic levels.

“The increase in the year relates predominantly to an increase in Creditors’ Voluntary Liquidations, which stand at 12,661 for the period – the highest annual number since 2009.

“With the majority of government support measures coming to an end last year, including the furlough scheme, there continues to be a challenging environment for businesses that have been impacted by the pandemic.

“In the event that company directors are concerned about their cash flow levels and overall financial health, our advice is to seek support as early as possible to allow for the assessment of a greater suite of options.” 

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